Business Roundup | Starbucks hiking prices despite falling costs

The Seattle-based coffee company says they'll go up on average by 1 percent nationally starting Tuesday. But it says the price for many drinks, such as medium and large brewed coffees and Frappuccinos, won't change in most its 11,000 U.S. cafes.

Depending on the market, Starbucks Corp. notes it's the first price hike most customers will see in about two years.

Olive Garden keeping focus on affordability

If the free breadsticks and unlimited soup and salad aren't enough, Olive Garden is hitting the gas on other promotions to get customers through its doors.

Darden Restaurants Inc., which has been struggling to keep customers in recent years, said deals like the "2 for $25" dinner special helped boost traffic at its flagship Olive Garden and Red Lobster chains last quarter.

For the quarter, Darden said net income fell 12 percent on rising costs and expenses. It earned $133.2 million, or $1.01 per share, compared with $151.2 million, or $1.15 per share, a year ago.

Alaska concerned about pipeline progress

Alaska Gov. Sean Parnell said Friday that the companies pursuing a major natural gas pipeline project in Alaska have not met all the benchmarks for progress that he has set.

While progress is being made, it's not moving as quickly as Alaskans expect, he said.

On Friday, Exxon Mobil Corp., BP, ConocoPhillips and TransCanada Corp. announced summer field work in connection with a proposed liquefied natural gas project that could exceed $65 billion.

The companies said they expect to have spent up to $100 million toward the project by the end of this year.

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Business Roundup | Starbucks hiking prices despite falling costs

Starbucks says it is raising prices in the U.S. starting next week. The Seattle-based coffee company says they?ll go up on average by 1 percent nationally starting Tuesday.